Steem (OpenLedger DEX: STEEM/BTS) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Steem began a wave one advance in December 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Steem should be heading next towards the April 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Steem is a social blockchain that grows communities and makes immediate revenue streams possible for users by
Whereas investor confidence was wavering and unpredictable during the 2018 bear market, 2019 is showing us a stable market which has so far supported sustainable growth.
From a bullish perspective this is a positive sign – and one which is hardly surprising. For the past year I have been attacking bearish sentiment on all fronts: the inane mentality that sells a long-term hold for short-term profit (akin to selling Microsoft shares in the early ’80s), negative sentiment towards crypto – a disruptive revolution in international finance, the total disregard of a plethora of positive and substantial 2018 crypto news etc.
You can’t make this up folks. I have been saying this for months, in fact many have been saying this for a while. And now the MARKET has reacted to it. While EVERYONE (many) on Steem blockchain moan and groan about @steemit powering down, I am like…
Steem immediately went straight up over the next 6 days once @steemit started the full powerdown. The MARKET loves this. For a reaction of 70+%, you can’t argue with the price. If you have been around markets (all markets rhyme) then you know that PRICE is what matters. This news is positive, don’t let
The price of steem saw a little pump the past couple days. This has caught people’s attention and has folks speculating on why it has happened.
Here’s the thing, even with this little pump nothing has changed at the moment. We are still in the same trading range we have been in, just now we are near the top end of it.
I know, I sound like a debbie downer. I swear I’m just conveying what the charts are telling me though. I do hope we can break this range to the upside.
Steem and the Range
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Subsites
We have implemented a subsite option for you, in case you want to be able to brand your own site. There is a nominal fee of the equivalent of $5/month. If you desire some help with setup, you can contract with one of our staff on a freelance basis, or bring on a friend or other contractor. We’re open to proposals, but our focus is on Scripsio so we won’t be developing subsites. You will have support for anything we provide that isn’t working right. That doesn’t include any tools you add yourself.
Store
Scripsio intends to have a market application on the site before too long. This will provide a place where you can buy and sell goods (hard and digital) and services.
Blogs
Most of the site is pretty intuitive to use. You just post what you want, set up groups, join groups, build your list of followers/followees and engage however you want. This engagement is local and stored only on the Scripsio servers. Again, you can always delete it all with a few clicks, if you desire.
On the other hand, we have integrated the social features with your own Scripsio blogs. Everyone has one, so you can use that to post content anytime you want.
All you need to do to access it is to hover over “+ New” in the topbar and then click on “Post”. The editor opens up and you’re on your way. When you publish the entry, it will show up on your timeline and however you have set your preferences.
As a small bonus, all articles posted from Scripsio will be tweeted on Scripsio’s Twitter. If you decide to have your own blog, we can set it up to automatically post to your Twitter as well.
Steem
An exciting feature of these blogs is that they are integrated with the Steem blockchain. It’s not necessary to do so, but you are able to go into your dashboard and set it up.
In order to set it up, all you need to do is hover on “Scripsio” in the topbar, then click on “Dashboard”. From there, click on Profile in the left column.
You’ll see your details there, most of which are editable. Your password can be changed there as well. If you’re logged into multiple devices and want them logged out, there is an option for that. And just below that, about halfway down the page, there are options for inputting your Steem Username and Private Posting Key (for safety and security, please don’t use a different key).
Once you’ve done that, and saved, it, all your blog entries will publish to your Steem blockchain account as well, from where they can be seen on other UIs, offering multiple angles of engagement. The community also has integrated the comments and upvotes section, so you can enjoy a full experience from Scripsio. If, for some reason, you would rather publish an article without it going to Steem, you can do that as well. Simply uncheck the box in the SteemPress section in the right column of your editor.
No Steem Account Yet?
If this interests you and you don’t have a Steem account yet, there are a couple of options. The easiest and quickest is probably to go through Steem.Ninja (can use credit card) or AnonSteem (anonymous/cryptos only), where you can buy one and have it all set up very quickly. Another project to help you is Steem onboarding. While setting up an account through them may not be quite as convenient as Steem Ninja, they are in the process of setting up introductory tutorials to help you learn about blockchain and Steem in particular. We highly recommend their services, even if you don’t get your account from them.
We’re still trying to figure out if we’re grown up enough for beta. Come on over and see what you think. We’d love the feedback.
Well folks, I believe the time of Make it or Break It may not be upon us in the Steem ecosystem. @Steemit has decided to start its’ power down of 34 Million Steem Power as you can see below.
They then send a memo to say they are moving the Steem to “secure wallets”. I call absolute bullshit on this reasoning. They are powering down to pay for the company and expenses, and likely also for some more research and expenditures. I presently have some mixed feelings about this situation…
Normally when The Majority stake holder starts selling LARGE amounts (it is
Many people ask me why lately I only use BITCOIN in my daily analysis and why not to search for other good altcoins willing to “Pump” and generate quick profits…
Quick and easy answer, because BITCOIN is the reference Crypto, still and, despite I am strongly convinced that there are much better 2nd or 3rd generation blockchains as STEEM, EOS or the like… I cannot deny the supremacy of the “king” besides is “beauty” in being the great invention of this, our beloved Blockchain technology…
Having said that, and coming back to the usual post topic here that is the TA analysis
You can want steem to trade freely as much as you want, but unfortunately it is still a price slave to bitcoin.
Big Brother
The reality is 90% of steem’s price action correlates to what the price of bitcoin is doing. Granted, this holds true for a lot of coins. Especially coins that don’t readily have a USD or stable coin pair, such as steem.
This Looks Familiar
Looking at the daily price chart of steem the last few weeks looks eerily similar to bitcoin’s price action. Given that btc is the lead dog it makes sense. At this time steem is still just
